When you sign up to an online slots site, the general idea beforehand is that you’re going to win some money. Yes, people get a kick out of the pure enjoyment of spinning the reels, and others even play on free demos like Starburst free spins UK no deposit game because they’re not fussed by the £ signs.
However, it’s fair to suppose that the majority of us have a dream of hitting the jackpot somewhere in the back of our minds. After all, jackpots can be life-changing. One example would be Mega Moolah and how it famously pays out huge winnings in the region of £15 – £20 million. Tempting isn’t it?
Different strategies when wagering amounts
So how much is a good amount to wager? Every gambler has to manage his or her bankroll differently as we all have our own personal financial situations. However, one strategy is to wager the largest amount possible with every spin. After all, isn’t it true that the more cash you bet, the more money you’ll win?
Look at it this way: if a slot pays out 5000 times your winning betting stake and you bet just £0.01; you’ll be awarded £50.
However, let’s say the maximum bet on this game is £10 and you land the winning combination. Suddenly, you find yourself £50,000 richer.
Bearing this in mind, why do people bet £0.01?
Some advantages of betting just £0.01
1) It is obviously very cheap and you’re unlikely to run into financial difficulties
2) Your bankroll will last for the longest time possible
3) You can play a huge range of slot games available with a relatively small bankroll
4) Mathematically, you will play for the longest time possible before you run out of money. As a result, you’ll have the best chance of unlocking bigger value wins or key bonus features on the slot.
Some disadvantages of betting just £0.01
1) Playing the lowest number of pay-lines per spin significantly reduces your chances of a win on each spin.
2) The winnings you take home are in direct relation to your wagering amount. Essentially, if you bet the smallest amount, you can only win the lowest value prizes.
3) On some games, if you don’t play all the possible pay-lines, then you can’t actually win the jackpot.
4) If truth be told, it could be argued that it saps some of the buzz out of the gambling experience.
Overall, betting the minimum amount on a slots game, in this case £0.01, suits fairly conservative gamblers.
If you tone down the amounts you’re betting you will extend your playing hours. However, conversely, winning big prizes becomes almost an impossibility.
As long as you’re reconciled to the fact that your takings will also be small, many gamblers on a tighter budget are contented to try and make their profits that way.
But it all boils down to simple mathematics:
Betting high amounts
1) You wager £5 per spin
2) You play for 1000 spins
3) The game has a 4% house edge (96% RTP)
4) 5 x 1000 x 0.04 = £200 in theoretical losses
Betting small amounts
1) You wager £0.01 per spin
2) You play for 1000 spins
3) The game has a 4% house edge (96% RTP)
4) 0.01 x 1000 x 0.04 = £40 in theoretical losses